This week’s selloff has extended into another a day, yet the dip is improving the crypto price prediction for XRP, Cardano and Litecoin in the medium-term.
These three coins have all taken significant hits, although some alts — such as Solana, Dogecoin, and Avalanche — have seen 24-hour losses rising above 4% today.
This may be disappointing news for anyone who expected last week’s (priced-in) rate cut to result in a bull rally, yet overselling increases the odds of a vigorous comeback.
And this is what we’re seeing with XRP, Cardano and Litecoin, which we’ll analyse in this article.
XRP has dropped back down to $2.82 today, making for a 1.5% loss in 24 hours and a 9.5% decline in a week.
But while the altcoin is also down by 3% in a month, it retains a very healthy 380% increase in the past year, making it one of the best-performing top-100 coins over this timeframe.
There are two main things to point out when it comes to its crypto price prediction, with the first being that the SEC is very likely to approve several XRP ETFs in the next few weeks.
And once these gain the green light, XRP could witness an influx in institutional demand, pushing its price ever higher.
Secondly, its indicators show that it’s in a decidedly oversold position, and given its rock-solid fundamentals, this should result in a rebound very soon.
Its RSI (yellow) and MACD (orange, blue) have both fallen into negative positions over the past few days, meaning that XRP is selling below a ‘fair’ average price.
In turn, this means it could recover very soon, potentially reaching $3 by the middle of October, before ETF approvals send it towards $5 for the end-of-year rally.
ADA has been one of the bigger losers today, having fallen by 4.5% in 24 hours, to $0.7844.
This also represents a 14% loss in a week and a 7% decline in 30 days, although the alt remains up by 100% in a year.
And as with XRP, ADA is also waiting on the SEC to approve ETF applications, although it has only one outstanding application to wait for, from Grayscale.
Even though it’s less popular among ETF providers, the approval of Grayscale’s ETF could be a massive boost for ADA.
Such approvals may arrive just at a time when ADA’s indicators bottom out, meaning that the coin could experience a big price swing upwards.
Its RSI is on its way down to 30 or even lower, so soon ADA will be trading at a discount that investors may be unable to resist.
Whales have already been stocking up on the coin, with data showing that one big investor bought $56.8 million in ADA on Coinbase this week.
Given such interest in Cardano, which is one of the biggest layer-one networks in crypto, its price is likely to experience a sharp recovery soon.
It could reach $1 again by the end of October, while it has the potential to pass $2 in December.
Today has also been difficult for Litecoin, which at $103.45 is down by 3.5% in 24 hours and by 10% in a week.
However, the same theme applies to LTC as it does to the coins above, in that its oversold price is about to combine with several ETF approvals.
In fact, Litecoin is the likeliest altcoin to gain SEC approval, given its forking from Bitcoin.
Canary, CoinShares and Grayscale are all waiting on decisions from the SEC, with Bloomberg analysts giving their applications a 95% chance of approval each.
We could therefore see the Litecoin price rise strongly, with its chart today showing that a bullish pennant has been forming since mid-July.
Even more so than the two coins above, its RSI and MACD indicators are very close to bottoms, so we may not be that far from a rebound.
Assuming SEC approval of the three coins above, it could reach $150 by the middle of October, before entering the New Year at above $500.
The market is shaping up nicely for a end-of-year bull rally, so traders may want to diversify into newer tokens, in order to widen their exposure to the biggest possible gains.
One way of doing this is to allocate some holdings to presale tokens, which can often surge when they list for the first time.
Possibly the most interesting presale coin at the moment is PEPENODE ($PEPENODE), an ERC-20 token that’s introducing some very novel mine-to-earn functionality.
PEPENODE has now raised over $1.4 million in its ICO, which it opened only a few weeks ago, with this figure providing an early warning of its future potential.
As the market’s first-ever mine-to-earn token, PEPENODE will give traders the ability to build their own virtual mining rigs and earn mining rewards.
They can use the PEPENODE token to buy their own virtual nodes, which expands their rigs and enables them to earn greater rewards, including in third-party tokens such as FARTCOIN and Pepe.
Holders of PEPENODE will also be able to stake the token, with its protocol currently offering an annual yield in excess of 800%.
It could therefore be very profitable to hold PEPENODE, which could attract massive demand once it lists.
Investors can join the sale and buy it at a discount by going to the PEPENODE website.
They can connect a compatible wallet, such as Best Wallet, and then buy the desired amount of PEPENODE using crypto or a credit/debit card.
It’s currently available at $0.0010745, a price that will continue rising throughout the sale.
